Buying New Homes vs. Old Homes in India

Are you decided to buy a home?

What will you choose, a resale house or a new one?

Buying a house is one of the important decisions you make in your life. How can you make this decision? Identify your most basic needs so that you can help yourself in the process of determining according to your lifestyle.

When buying a property, you have to check multiple factors such as location, price, and financial procedures among others. Obviously deciding to buy a resale or new home is not an easy and quick decision to make. You can find problems in resale houses.

However, in this article, we tell you about the advantages of acquiring a new property against the used home.

Affordable Houses with Quality Facilities

Prices in new homes are easily negotiable than those in resale homes. Another point of consideration is that new homes are subject to an owner with mandatory fees, assessments, and architectural controls. Many new houses are built with modern facilities, which express your individuality. An important point in new homes is energy efficiency. The new houses are designed with construction materials that promote energy savings such as insulation, laundry rooms, energy saving central air conditioning, etc. whereas, old homes are constructed long back with limited facilities and it also needs some kind of renovation which make you spend more budget.

Builder’s Support

The new property will have well-planned fittings and fixtures that assure a buyer to lead a hassle-free life for a long time. It’s always better to choose the new home to enjoy the quality facilities. An old house can cause many problems with poor facilities. You could find damage that in the long term would be a huge investment of time and money.

Energy-Saving Property

Home automation has been popular in the real estate sector in recent years. It’s so simple to equip a new home with the latest technology to improve the comfort of those who live there. Whereas, old homes were built with lower standards and you would not have the option to save energy.

Legal Status:

When you buy a new home, you benefit from a quality housing plan. This plan ensures the fulfilment of certain legal obligations of the builder. The builder will take care of all the essential documents. While buying a used home, you must take time to investigate if the property has debts or any legal impediments.  The procedure is extremely long and takes a lot of time to close the deal.

Property Valuation:

A used property will not have a greater increase in the valuation of your investment after a certain period. If you purchase a new property, there will be a greater increase in the valuation of your investment after a certain period of time. You can get an excellent return on investment.

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